Impact of Corporate Social Responsibility in Social Innovation: an analysis on the banking sector in Bangladesh

Abstract

Social innovation refers to new strategies, concepts, ideas and organizations that meet social needs of all kinds - from working conditions and education to community development and health - and that extend and strengthen civil society. In Bangladesh CSR is mostly done by banking sector . Some of the banks take CSR as their strategy. they can realize that they run their business within the society . Society permit them to work, so they have some responsibilities for the society. Performing in a socially responsible manner is also providing them good image in the eyes of the customer. In our country DBBL, HSBC, SCB and Commercial bank of Ceylon do most CSR in this sector. DBBL mainly contribute in health, education scholarship, and environment area. For HSBC one percent of their total amount of profit they use for CSR. They emphasis on education mostly .they also focus on cultural development. Standard charter bank provide fund for eye care. Commercial bank of Ceylon provide fund on emergency situation. They decide on the circumstances. Those banks differ in the area of contribution. Between them DBBL and HSBC do some contribution continuously. Some major finding of this report are: 1. Most important areas for contribution are Health, Education and Natural deserter. 2. In professional development and woman development their contribution is not satisfactory . 3 General people believe Business has duty to its society 4. CSR provides long tenn sustainability and profitability to the company. 5. If Government takes some action towards CSR country can benefited more.